Merchant Cash Advance

A merchant cash advance provider gives a business a lump sum of cash in exchange for a definite percentage of your future sales. With this type of a loan a you make daily or weekly payments, plus fees, until the loan is paid off in full.

To take out a merchant cash advance means clearly defining a goal for which funds are required. It could be:

  • credit line for replenishment of enterprise current flows;
  • one-time loan replenishing working capital;
  • investments for expansion and improvement;
  • repayment of debt in another bank (obtaining more favorable conditions);
  • targeted credit (for example, the purchase of equipment, tools, etc.);
  • car purchase.

A merchant cash advance has a lot of advantages:

  • high speed of processing and funding;
  • minimum paperwork;
  • affordable interest;
  • short term loan repayment;
  • no need to attract guarantors or collateral;
  • simple loan repayment.

Who can get a merchant cash advance?

Anyone who meets the minimum requirements of the lender can take this loan, namely:

You have a business or plan to start a business;

  • age of majority. You can get your first merchant cash advance if you are at least 18;
  • US citizenship or legal residency;
  • bank card. To get the borrowed funds, a debit, credit, overdraft card issued by any US bank is suitable. The only requirement is that the card must be issued in the name of the borrower.

In addition to those listed requirements, you will need a mobile phone and email address.